In calculating GDP, economists
A)can measure either total expenditure or total income.
B)measure total income plus total expenditure.
C)measure total income minus total expenditure.
D)measure total expenditure as the only true measure.
E)measure total income as the only true measure.

Question

Quizplus · Accepted Answer

GDP can be calculated using either the expenditure approach (total spending on goods and services) or the income approach (total income earned by factors of production), as both should theoretically yield the same result.

In Calculating GDP, Economists